Kirby (NYSE:KEX) Announces Quarterly Earnings Results

Kirby (NYSE:KEX) released its quarterly earnings results on Wednesday. The shipping company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.08, Briefing.com reports. Kirby had a net margin of 9.37% and a return on equity of 9.49%. The business had revenue of $831.10 million during the quarter, compared to analysts’ expectations of $824.42 million. During the same quarter in the previous year, the company earned $1.05 EPS. The business’s quarterly revenue was up 8.7% compared to the same quarter last year.

Kirby Stock Down 0.4 %

NYSE:KEX opened at $114.30 on Friday. Kirby has a 1-year low of $72.11 and a 1-year high of $130.90. The company has a market capitalization of $6.62 billion, a PE ratio of 21.94, a P/E/G ratio of 0.71 and a beta of 1.17. The firm’s 50-day moving average price is $120.75 and its 200-day moving average price is $118.06. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.70 and a quick ratio of 1.05.

Insider Buying and Selling

In other news, CEO David W. Grzebinski sold 26,358 shares of Kirby stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $120.46, for a total transaction of $3,175,084.68. Following the completion of the transaction, the chief executive officer now directly owns 63,399 shares in the company, valued at approximately $7,637,043.54. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Kirby news, COO Christian G. O’neil sold 2,770 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $110.21, for a total transaction of $305,281.70. Following the completion of the sale, the chief operating officer now directly owns 16,079 shares in the company, valued at approximately $1,772,066.59. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David W. Grzebinski sold 26,358 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $120.46, for a total transaction of $3,175,084.68. Following the sale, the chief executive officer now owns 63,399 shares in the company, valued at approximately $7,637,043.54. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,012 shares of company stock valued at $5,571,267 over the last quarter. Corporate insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on KEX. Bank of America lifted their price objective on Kirby from $138.00 to $141.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. StockNews.com lowered shares of Kirby from a “buy” rating to a “hold” rating in a research note on Sunday, September 22nd. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $123.80.

About Kirby

Kirby Corporation operates domestic tank barges in the United States. Its Marine Transportation segment provides marine transportation service and towing vessel transporting bulk liquid product, as well as operates tank barge throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii.